Milbank/Davis Polk/Cravath Scale: NYC to 215-415k Forum

[Anonymous User]

Fried Frank match (again), reflected in 3/31 paycheck and retroactive to 1/1.

[Anonymous User]

Weil match, retro to 1/1

[Anonymous User]

Latham hasn't matched yet and I was stuffing my bag full of snacks from the office last night in anger when I realized these are *Kirkland* brand snacks, not name brand. Obvioulsy the firm is going bankrupt and no raise coming.

[Anonymous User]

Latham hasn't matched yet and I was stuffing my bag full of snacks from the office last night in anger when I realized these are *Kirkland* brand snacks, not name brand. Obvioulsy the firm is going bankrupt and no raise coming.

Yeah but among law firms Kirkland snacks are actually more expensive because of the above-market bonuses.

[Anonymous User]

Yeah but among law firms Kirkland snacks are actually more expensive because of the above-market bonuses.

above market bonus, below market dollars per hour worked

[Anonymous User]

Stroock matched! Not sure if anyone cares, but I'm a happy camper

[Anonymous User]

Yeah but among law firms Kirkland snacks are actually more expensive because of the above-market bonuses.

above market bonus, below market dollars per hour worked

Because the rest of the V10 isn't working just as much

[Anonymous User]

Did S&C match? I didn't see anything from them on the move to 205 or this new one to 215

[Anonymous User]

As an aside, I am at an AmLaw100 firm that doesn’t pay market but generally bumps when the market moves. However, they haven’t done any raises to correspond to this recent increase. Anyone else at a similarly situated firm?

[Anonymous User]

Did S&C match? I didn't see anything from them on the move to 205 or this new one to 215

S&C did match the move to 205 (with the 202.5 for stubs). Probably waiting for their next partner meeting to move to 215.

[Anonymous User]

Seeing these raises as a third year causes some sadness. Guess it was inevitable that juniors were going to get comparatively shafted at some pointed. Oh well, had decided last year to stick around for at least four years in total, so at least get to reap some of these benefits at some point.

[Anonymous User]

Will Cravath match tomorrow or give everyone +5/10K bumps over DPW?

[Anonymous User]

What are the chances Crowell & Moring match?

Those cheap bastards might match the scale for juniors but they compress mid-level and senior associate salaries.

can you elaborate?

[2013]

What are the chances Crowell & Moring match?

Those cheap bastards might match the scale for juniors but they compress mid-level and senior associate salaries.

can you elaborate?

They actually shaft everyone now.

Before they went to the two tier scale, they were market the first 2-3 years regardless of hours.

[Anonymous User]

Will Cravath match tomorrow or give everyone +5/10K bumps over DPW?

Can Cravath afford to lol? I feel like they might even want to give up that market leader spot because they're noticeably less profitable (like by at least half a million) than their peers.

[Anonymous User]

Gibson Dunn match.

[Anonymous User]

Gibson Dunn match.

The ATL post is so tone deaf: https://abovethelaw.com/2022/02/gibson-raises-22/

There’s a lot of awful in the world right now. But if you need some relief from scrolling the Kyiv Independent’s feed for the latest in the war effort, perhaps this will help. Another Biglaw firm has decided to share the proceeds of their good year with hardworking associates in the form of raises.

Disgusting.

[Anonymous User]

Gibson Dunn match.

The ATL post is so tone deaf: https://abovethelaw.com/2022/02/gibson-raises-22/

There’s a lot of awful in the world right now. But if you need some relief from scrolling the Kyiv Independent’s feed for the latest in the war effort, perhaps this will help. Another Biglaw firm has decided to share the proceeds of their good year with hardworking associates in the form of raises.

Disgusting.

Huge yikes

[Anonymous User]

Just needed a rant and this seemed like the most appropriate thread…

I keep seeing hot takes in my LinkedIn feed, including to linked articles in the legal media, about how these pay hikes will upset clients, because the costs of the hikes are ultimately being passed onto them. One even said, Milbank is positioning themselves terribly from a client standpoint by pushing for these pay increases.

Surely, people see through this ridiculous argument? No firm is going out to the market and saying, “You’ll need to pay us more because, well, we need to fund the latest associate pay hike.”

Legal fees are a function of pure economics (supply, demand, price elasticity, etc.) I’m sure clients would pay law firms peanuts if it was feasible from a business perspective. Most of the improved market position has been to the benefit of the equity partnerships in the form of record levels of PEP. Good for them. Associate pay is a cost of doing business for the firm (similar to office space, IT equipment and so on). There also is a market for associate hiring and retention, and a price point for not just having access to the best legal talent, but even putting bums on seats with the current workload burden.

A lot of the arguments out there seem to come from disgruntled partners who are being greedy and want to disingenuously reframe the situation.

[Anonymous User]

One even said, Milbank is positioning themselves terribly from a client standpoint by pushing for these pay increases.

Surely, people see through this ridiculous argument?

Speaking from an envy perspective, it's easy for one to shit on Milbank to excuse its own firm for not matching.

I don't see Milbank closing its door anytime soon. If anything, it is positioning itself to replace Cravath as the common household name among law students and associates (some/most of which will eventually go in-house and become the next crops of clients). I see it as a strategic long-term play by Milbank, building up a lot of good will. Time will tell.

[Anonymous User]

Akin match

[Anonymous User]

NRF matched retroactive to Jan 1st.

[Anonymous User]

Cannot believe Cravath still hasn't matched. Is there a real chance they could try to upset the scale? Or is this just them dragging their heels?

[Tbontbtitq]

Akin matched retroactive to Jan 1

[Anonymous User]

Sources say Cravath raised?!